Budget reaction: Rishad Dadachanji, Director, KAISHA Group of Companies
The announcement to commit a 137 per cent budget increase for healthcare and nearly 200 per cent boost for developing the pharma sector instil a high level of optimism in the industry. The allocation of Rs 35,000 crores for COVID-19 vaccine development and immunisation was a much-needed impetus for Atmanirbhar Bharat, as it continues to maintain its global lead in tackling the pandemic.
This year’s unprecedented increase in the budget allocation is further assuring for the pharma industry as it is working to provide for the mammoth task of immunising 1.3 billion Indians.
The Indian healthcare and pharma industries have emerged as a shining example of rising up to the challenge in order to support the country as well as the world during the pandemic. While we collectively supported the pharma supply chain which saw soaring demands, the government’s backing with quick decision-making, boosting the supply chain and addressing existing loopholes in the ecosystem has shown great results for its vision to make India a global pharmaceutical hub.
